VANCOUVER, British Columbia--(BUSINESS WIRE)--Response Biomedical Corporation (TSX: RBM, OTCBB: RPIBF) reported financial results for the second quarter ended June 30, 2011. For the three month period ended June 30, 2011, total revenues increased 23% to $2,771,104 compared to $2,255,513, gross margin percentage from product sales increased to 35% from 14%, operating expenses decreased 30% to $1,490,930 from $2,123,585. The increase in gross margin and decrease in operating expenses resulted in a 61% decrease in the loss to $719,685 or $0.02 per share compared to $1,868,104 or $0.07 per share in the same period last year.
